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Build Your Financial Legacy- Separate Fact from Fiction
Category: GENERAL
Tags: legacy financials oprah suze orman college degree college education will trust juniques renting buying real estate stocks bonds

 

Hello Community, This is great information. Having correct information will help you better prepare your inheritance!
 
 
5 Pieces of Financial Advice to Avoid at All Costs

Oprah.com   |   From the October 2012 issue of O, The Oprah Magazine
suze orman
Suze Orman on the commonly accepted money tips it pays to ignore.
Bad financial information doesn't come only from scammers; even our loved ones can unwittingly steer us wrong. That's why knowing what not to do with your money is often your biggest asset. In general, there are two little words that should set off everybody's suspicion meter: Trust me. Anyone who gives you this line—whether a financial adviser or your significant other—is disrespecting you. You should never entrust a money decision entirely to someone else. I know, I know: Sometimes you'd rather pass the buck. But remember, we're talking about your security, your future, your peace of mind. It's one thing to hire an investment adviser to help you choose funds for your IRA, or to cheerlead a spouse as he or she sets up a 529 plan to help pay your child's college tuition. It's quite another to tune out completely.

Find an hour or so a month to peruse a personal finance Web site or a magazine like 
Money or Kiplinger's, which will keep you up-to-date on the basics. The blog at Mint.com is also a great resource, with posts on everything from choosing a mortgage to spotting medical bill errors. By educating yourself in these simple ways, you'll sidestep all sorts of traps. Here's some common advice you should disregard—and more profitable leads to follow instead.


Don't Buy It: "Your child's college degree is a great investment."

A blanket statement like this is missing a crucial qualifier: An affordable college degree is a great investment. The unemployment rate for Americans 25 years of age and older is a lot lower for college graduates than for those with only a high school diploma (3.9 versus 8.1 percent). But that doesn't mean you should tell your kids to set their sights on any school—regardless of whether it will leave you with a crushing amount of debt. All too often, parents fail to strategize when it comes to paying for education and end up getting off the track to retiring comfortably. Ironically, this does kids a major disservice: If you lack sufficient retirement savings down the line, your children are the ones who'll bear the burden of supporting you.

A Better Idea: Think in terms of long-run affordability. (This goes for you and your child, since I firmly believe kids must borrow for school before parents dip into their savings or take out a loan.) Mark Kantrowitz, publisher of 
FinAid.org, says students should limit their total borrowing to an amount no greater than what they can reasonably expect to earn in their first year of full-time work; borrow more, and the odds of running into payback problems and default soar. Check out typical starting salaries at Salary.com; even if your child doesn't have a specific career in mind yet, it's a great exercise for families to do together, to start getting grounded in postcollege reality.

When it comes to financing options, remember that federal Perkins and Stafford loans offer the best deals; private loans are risky and can end up being far too expensive. The maximum Stafford loan amount a dependent student can borrow for all undergrad years is $31,000. Parents who want to chip in should first figure out if they can afford to do so by using the 
T. Rowe Price Retirement Income Calculator and then look into federal PLUS loans. Finally, your child should apply to at least one public institution; if money is extremely tight, there's also the option of attending two years of community college (whose credits are usually transferable) and finishing at a four-year school.


Don't Buy It: "Renting is a waste of money."

Buying a home can of course be a wise investment, especially considering today's record-low mortgage rates. But that doesn't mean choosing home ownership over renting is right for everyone. In some regions of the country, the cost of owning may still be higher than that of renting (to account for total ownership expenses, including property tax and maintenance, my rule of thumb is to add about 30 percent to the base mortgage amount). And while home values may be stabilizing in many parts of the United States, that doesn't mean they're suddenly going to start rising at a fast and furious pace. Over the next five to seven years, you still might not see a home's value appreciate the roughly 8 to 10 percent it would need to simply to cover the costs of relocating (which at the very least include the real estate agent's typical 6 percent commission, as well as movers' fees).

A Better Idea: Do the math carefully before you consider buying. Ask yourself: Do you have any inkling that you'll want to move in the next five to seven years, whether for a job, a fresh start, or a new experience? If so, purchasing a home is not a smart choice. Keep renting until you can commit to settling down for longer, and tune out everyone who says you're throwing away money.


Next: Are stocks too big a risk?

 

Don't Buy It: "Purchase whole life insurance for a better value."

Life insurance comes in two basic flavors: term insurance and whole life insurance. With the former, you're buying only insurance; the latter also includes an investing component, which makes it more expensive. The premium cost of a whole life policy is going to be much higher than that of a term policy. This would be justifiable if you were getting a great investment deal. But you really aren't—when you consider all the embedded fees.

A Better Idea: As far as I'm concerned, life insurance should be about life insurance, not investing. Reserve that for your 401(k) or IRA, and invest on your own through low-cost exchange-traded funds (ETFs) or no-load (commission-free) index mutual funds.


Don't Buy It: "Stocks are too risky; play it safe with bonds."

It's true that stocks are riskier than bonds and that, recently, bonds have produced better returns than stocks. But "recently" is the past; investing is all about the future. When interest rates are as low as they are today, the future is likely to be less profitable for bond investors; the value of bonds goes down when formerly low rates go up. And with the current interest rate on the ten-year treasury note at only 1.5 percent, there's virtually nowhere else for them to go. (To be clear, 1.5 percent isn't normal. Before the financial crisis, the same ten-year security paid an interest rate of around 5 percent.)

As for stocks, before you assume they're too much of a roller-coaster ride, don't forget about inflation—another word for the fact that over time, the price of stuff rises, on average about 3 percent a year. You need your long-term investments, like retirement money, to earn at least that average percentage so that when you retire you can afford the same standard of living you have today. Stocks have the best chance of earning inflation-beating returns.

A Better Idea: Keep some of your long-term investments (money you won't touch for at least ten years) in stocks. Consider dividend stocks, which both change in value and pay a portion of a company's earnings to the shareholder, typically on a quarterly or annual basis. Your 401(k) or 403(b) probably offers a stock fund that invests in dividend-paying companies, which include most of those in the S&P 500 Index. The dividend yield for that index market is currently about 2 percent—more than the yield of a ten-year treasury note! In general, be wary of investment tips, even from friends or family. Love doesn't mean having to take their financial opinions as gospel.


Don't Buy It: "Only multimillionaires need a trust. You're all set with a will."


Oh, no, you're not! A will designates where your assets go after your death. But what if you become sick and incapacitated and need someone to oversee your financial affairs? Your will won't help, and court proceedings will be required to establish a guardian to act in your stead. A trust functions for your own use and benefit while you are alive—including designating someone to handle your affairs in the event of incapacitation—and when you die, the courts aren't involved in the transfer of your estate.

A Better Idea: Pay a lawyer to draw up a revocable living trust. Also arrange for a durable power of attorney—a document that enables you to appoint someone to manage all your financial and legal affairs on your behalf should you become incapacitated. Finally, you'll need a "pour-over" will as backup, covering any assets (like furniture and items of strictly sentimental value) you haven't put into your trust. The little extra time and money that go into these steps are well worth it, for your sake and that of your loved ones.


Suze Orman's latest book is The Money Class: How to Stand in Your Truth and Create the Future You Deserve

 

Making the Financial Way for Seniors and Elderly
Category: GENERAL
Tags: aged citizen connections economic elderly employment empowerment for juniques multicultural senior seniors

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Juniques Multi Cultural Connections Making the Financial Way for Seniors and Elderly

 
 
JUNIQUES MULTI CULTURAL CONNECTIONS IS AGE AWARE!!!  http://www.jusmcc.org
If there ever was a group of people who need financial strategies for living a positive lifestyle is Senior Citizens (60-80) and the Elderly 80 and beyond).
 
Middle age folks (45-60) have to pay attention also, for they too, are heading into these catagories.
 
"The best-laid plans of mice and men often go awry" ( robert burns, poet)
 
Yes, the best laid plans can go wrong!!!!
JMCC is offering options for improving your finances ( which seems to effect so many areas of development). Living does not have to be difficult!!
 
USA economic policies are in place and/or being put in place to assist our youth. That is a good thing!
 
However, we must look at the other end of that "timeline" and see where these youths, will be arriving.
If we properly prepare, we will not have to be repeating the same economic empowerment strategies for those "new age category" people.
 
Additionally, we must assist seniors and elderly in devising an effective economic empowerment strategy. No one wants to be at the "mercy" of someone else benevolence to take care of them.
 
We have too much going for us economically in the USA to not make this happen!!!
 
www.jusmcc.org will be a advocate and provider in this endeavor.
 
The demographical information shows us why this economic empowerment is imperative!!
****
Senior Citizens to Exceed Children in Most of World and U.S. by 2050 Census Bureau estimates show seniors in U.S. increasing by 104% from 2012 to 2050
 
June 28, 2012 - The world's inhabitants in 2012 are an older mix of people than was the case a decade ago, driven by declining fertility and increasing life expectancy.
 
According to new U.S. Census Bureau population
projections, by midcentury most world regions, and the United States, will resemble Europe, which in 2005 became the first major world region where the population 65 and older outnumbered those younger than 15. In the United States, the senior citizen population - those age 65 and older - is projected to grow by 104.3% between mid-year 2012 and 2050.
 
At that point there will be 80.5 million Americans under age 15 and 86.8 million seniors over age 64. Northern America, which includes Canada and the United States, will have joined Europe in this historic reversal of age group sizes by 2050, as will Asia, Latin America and Oceania (which includes Australia and New Zealand).
 
Moreover, China is projected to move from having nearly twice as many people in the younger age group than in the older one in 2012, to the opposite situation by midcentury.
 
These projections come from an update of the Census Bureau's International Data Base, which includes estimates by age and sex to 100 years and older for countries and other areas with populations of 5,000 or more and provides information on population size and growth, mortality, fertility and net migration.
 
 
Since April 2012, users of the International Data Base have been able to obtain population in single years of age, allowing them to calculate country-specific populations in particular age groups (e.g. population at selected ages younger than 5, or adolescents).
 
 
Between now and the middle of the 21st century, global population will continue aging. The percentage of population 65 and older will more than double, from 8 percent today to nearly 17 percent in 2050.
 
 
This will carry with it well-established changes in the mix of communicable and noncommunicable disease patterns in populations, health care burden, pension systems, the composition and character of the labor force, and other economic variables, such as savings and consumption patterns.
 
 
One world region — Africa — will continue to have populations younger than 15 that are much larger than those 65 and older, but even there, the balance will have shifted toward the older group JMCC is active in providing job and opportunities for the multi cultural communities, especially seniors and elderly!!

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Why Did You Join Your Online Business
Category: GENERAL
Tags: online business promotions marketing

Why Did You Join Your Online Business? Was it to Earn Money? READ THIS!

Why did you join your  online business.

Was it only to earn money?

People who you contact will quickly discover that too!!

 
Building a team is critical in succeeding in your online business.

If your only motive is to earn money and product really does not matter,

that too will quickly become known.

 

You can at that moment, recognize and accept, for you, "Game Over".

 It is important you have correct "business fit".

Like getting your clothes "tailored-fitted". You feel and look better, then the "off the rack fitting".

Where you just hope it looks good on you.

 Your business selection is just as critical.

You must really believe in the product you promote. Yes, if you only offer the product  because you get a commission for getting other to offer the product. Success will not be your companion on the"road of life".

Any product can produce that result.

Actually, you could just "drop" the product and tell your prospect

"just send in your $30 per month and get others to do the same, and the income projections will be real!".

Some would call that gifting. Truly, this is one of the reason the industry stat "98% fail in Networking Marketing" holds true.

 
Ok, next critical reality.  You must build a team to help you grow your business and to help grow theirs!!!!

 

Have a system designed to help your team grow the "properly fitted business".

 No one, I repeat, No one, should be trying to "reinvent the wheel".

 There are proven promoting and recruiting tool available now for any serious business builder.

Fortunately, many are available at very low cost.

 Yes, I have a recommendation, ( thought I wouldn't  smile)

go to this location  http://ihateselling.us

Business tools to build your business for only $9.95 per month

 

I like this system, its professional and its affordable.

It is also easy to assist your team with. Critical. You want your team to

be able to work independently from you. Yes, dependent on team

assist but not depend on any one person. Think on that for a moment.

Ok, I will bring you additional observations and recommendation.

Until we speak or meet Have Fantastic days and may great wealth and great

health, be your constant companions, on the road of life.

make sure you check out http://www.ihateselling.us

At your service,

Rickey

www.jusmcc.org

my business tool/team building recommedation
make sure you check out http://www.ihateselling.us

 

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